03/12/20121. Call to Order
2. Approval of Minutes
PENSION TRUSTEES AGENDA
Location: Council Chambers - City Hall
Date: 3/12/2012- 1:00 PM
2.1 Approve the minutes of the February 13, 2012 Pension Trustees meeting as submitted in written
summation by the City Clerk.
� Attachments
3. Pension Trustee Items
3.1 Approve the new hires for acceptance into the Pension Plan as listed.
6� Attachments
3.2 Approve the request of employee Thomas Long, Parks and Recreation Department, for a regular pension
as provided by Sections 2397 and 2.398 of the Employees' Pension Plan.
6� Attachments
3.3 Approve the request of employee Louise Schult, Police Department, to vest her pension as provided by
Section 2.397 of the Employees' Pension Plan.
L� Attachments
4. Other Business
5. Adjourn
Pension Trustees Agenda
Council Chambers - City Hall
Meeting Date:3/12/2012
SUBJECT / RECOMMENDATION:
Approve the minutes of the February 13, 2012 Pension Trustees meeting as submitted in written summation by the City Clerk.
SUMMARY:
Review Approval:
Cover Memo
��11�:�)
Attachment number 1 \nPage 1
TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING MINUTES
CITY OF CLEARWATER
r r � � �
Present: Chair/Trustee George N. Cretekos, Trustee Paul Gibson, Trustee
Doreen Hock-DiPolito, Trustee Bill Jonson, and Trustee Jay E.
Polglaze.
Also Present: William B. Horne II - City Manager, Jill S. Siluerboard - Assistant City
Manager, Rod Irwin - Assistant City Mar�ag�r; �'arnela K. Akin - City
Attorney, Rosemarie Call - City Clerk, �n°d Nicc��e �prague — Official
Records and Legislative Services C�ao��linato�
To provide continuity for research, items are in
necessarily discussed in that order.
Unapproved
�
The meeting was called to order at
2. Approval of Minutes
2.1 Approve the m�n�at�,s of thE
m
submitted ��ii+��'�tten ��rt'am
Trustee Bil# .��nson moved to �p�
Trusteesim�:eting as submitted i�
duly second��! and carried unani
3. Pension:
3.1 Aaprove t
► . �Fi'T�If•7�yF�
Items
hires fs
eat./Div.
th
�n
�Y-
all.
�'�.Iiy
al
Trustees meetina as
tes of the January 9, 2012 Pension
ation by the City Clerk. The motion was
nce into the Pension Plan as listed.
Pension
Hire Date Eliq. Date
Matthew Carter, Parks Service Technician I/Parks & Rec. 12/5/11 12/5/11
Antwan Williams, Parks Service Technician I/Parks & Rec. 12/5/11 12/5/11
Lynn Clark, Customer Service Rep./Customer Service 12/19/11 12/19/11
Stuart Miller, Electrician/Solid Waste-General Services 12/19/11 12/19/11
Deborah Humes, Customer Service Rep./Customer Service 12/19/11 12/19/11
Council2/13/2012 1
Item # 1
Attachment number 1 \nPage 2
Trustee Paul Gibson moved to approve the new hires for acceptance into the Pension
Plan as listed. The motion was duly seconded and carried unanimously.
3.2 Approve the request of emplovee Robert Maran, Enqineerinq Department;
Georqette Summarell, Police Department; and Vincent Carino, Fire Department,
for a reqular pension as provided bv Sections 2.397 and 2.398 of the Emplovees
Pension Plan.
Robert Maran, Engineering Specialist III, Engineering �
by the City on November 19, 1973, and his pens�c�rt sei
October 9, 1984. His pension will be effective March 1,
average salary of approximately $73,634 per y��� ove�
formula for computing regular pensions, and Mr ��4�r�
Joint and Survivor Annuity, this pension will apprs���m�:
Georgette Summarell, Police Commun
employed by the City on December 1,
effective on March 23, 1992. Her pensi
an average salary of approximafely $��
formula for computing regular pension�
Joint and Survivor Annuity, thi� p�nsii��
Vincent Carino, Firefightei
the City on FeJ�r��a�y 14, 1
date. His neri�ion v�✓��1:be E
co
Lif
�i�e1y $61,1 ��3 �i�
� regular pensia
ity, this pension
ent, was employed
�dit is effective on
3ased on an
ic"p��t �ive years, the
selecfi��ra af the 75%
$55,897 ��cnual��,
perator�, �olice Department, was
her penslc�ri; ��rvice credit is
��vill b� efi�ective Apr�� 1, 2012. Based on
398 pe� y��� over the �ast five years, the
and I�s°'Sur�rriarell's selection of the
�
,519 annually.
u�:r-Operator� ��re De'partment, was employed by
� and his pensic�r� �ervice credit is effective on that
tiue;March 1, 2012. Based on an average salary of
ar o��r� t�he past five years, the formula for
�nd Mr ;��rino's selection of the 10-year Certain and
�pproxim�te $63,747 annually.
Sectiort �:�97 provides for nc�rmal retirement eligibility when a participant has
complet�d th�rty years of cre+��ed service, has reached age 55 and completed
twenty year� c�f �redited �er�r�ce, or has reached age 65 and completed ten years
of credited ser��;; S���i�n'2.397 also provides for normal retirement eligibility
�
when a par�icipan� �� �bmpleted twenty years of credited service or has reached
age 55 and compl��1`�ten years of credited service in a type of employment
described as "hazardous duty" and further defines service as a Firefighter/Driver-
Operator as meeting the hazardous duty criteria. Mr. Maran and Ms. Summarell
qualify under the age 55 and twenty years of service criteria. Mr. Carino qualifies
under the hazardous duty criteria.
Council2/13/2012 2
Item # 1
Attachment number 1 \nPage 3
Trustee Bill Jonson moved to Approve the request of employee Robert Maran,
Engineering Department; Georgette Summarell, Police Department; and Vincent
Carino, Fire Department, for a regular pension as provided by Sections 2.397 and 2.398
of the Employees Pension Plan. The motion was duly seconded and carried
unanimously.
3.3 Approve the request of emplovee Diana Atkinson, Solid Waste/General Services
Department, to vest her pension as provided bv Section 2.397 of the Emplovees
Pension Plan.
Diana Atkinson, Accounting Clerk, Solid Was
was employed by the City on November 4, 1�
Pension Plan on that date. Ms. Atkinson term
December 8, 2011.
The Employees' Pension Plan provides that sF
employee of the City of Clearwater or chan�� �
after completing ten or more years of cre���al�l
such employee shall acquire a vested,�nfi�rest�
pension payments commence on the;f�rst of th
which the employee normally would h�iYe be�r
Section 2.397) provides for
reached age 55 and comp�
30 years of cr�d�ted,servicE
credited s�i�r�c�;_ I�s: Afikin:
and re��kt�d age 5!
Decemki�;r 1, 2012.
Trusfee Pai���z
Waste/Gener
of the Emplo�
unanimously.
�
�nera�; ��ru�c�;s Department,
�nd be��n participating in the
ad from �ifi� �:�ployment on
Id an'�rnployee cea�� to be an
:us frorra fiull-time to part-time
�rvice (p�r��ion participation),
k�����etiremen� ki�nefits. Vested
�Qnth:;following``the month in
igib�� for retirement.
retiremerit eligibilaty when a participant has
twenty year� �f �r'e��ted service, has completed
:has reached �g�; fi5 and completed ten years of
ti��tld have completed at least 20 years of service
ber �; 2012. Her pension will be effective
moved to appr�e the request of employee Diana Atkinson, Solid
;es Departm�:r�; to vest her pension as provided by Section 2�397
��ion Plar�;: The motion was duly seconded and carried
Council2/13/2012 3
Item # 1
� r' •
The meeting was adjourned at 1:11 p.m.
Attest
City CIE
Chair
Employee's Pension Plan Trustees
Attachment number 1 \nPage 4
Council2/13/2012 4
Item # 1
Pension Trustees Agenda
Council Chambers - City Hall
SUBJECT / RECOMMENDATION:
Approve the new hires for acceptance into the Pension Plan as listed.
SUMMARY:
Name, Job. Class, & Dept./Div.
James Halios, Landscape Maint. Coord./Parks & Rec.
Lanette Richards, Utilities Chemist/Public Utilities
Review Approval:
Hire Date
1/3/12
1/3/12
Pension
Eli�. Date
1/3/12
1/3/12
Meeting Date:3/12/2012
Cover Memo
��11�:��
Pension Trustees Agenda
Council Chambers - City Hall
Meeting Date:3/12/2012
SUBJECT / RECOMMENDATION:
Approve the request of employee Thomas Long, Parks and Recreation Department, for a regular pension as provided by Sections 2397
and 2398 of the Employees' Pension Plan.
SUMMARY:
Thomas Long, Tradesworker, Parks and Recreation Department, was employed by the City on June 30, 1990, and his pension
service credit is effective on that date. His pension will be effective April 1, 2012.
Based on an average salary of approximately $44,751 per year over the past five years, the formula for computing regular pensions, and
Mr. Long's selection of the 100% Joint & Survivor Annuity, this pension will approximate $25,728 annually.
Section 2397 provides for normal retirement eligibility when a participant has completed thirty years of credited service, has reached
age 55 and completed twenty years of credited service, or has reached age 65 and completed ten years of credited service. Mr. Long
quali�es under the age 55 and twenty years of service criteria.
Review Approval:
Cover Memo
��11�:��
the time of separation from the City. There will be no cteauction tor pens�on
from this lump sum payment nor will this amount count as earnings in the
calculation of the pension. The iast day of work will be the termination date
and pension benefits wiil begin the following month.
PREFERENCE #2 Employee can extend termination date by part or all of the time due for
--- ------ vacation, oating o i ay pay, sic eave incen ive, onus c�ays C� apptica e,-- --
m m �i it thi� time In
any manner. Balance will be paid in a lump sum on empioyee's fina! paycheck.
Termination date will be the fina{ day of extended time. Pension L�� I�ty�yajr�jber 1\nPage
begin the foliowing month.
� �O�t1°1C�.5 ar°1 � , an empioyee of tne Ciiy oi Ciearwai�r, h�rzby aapiy ior
pension benefits under the City's Employees' Pension Plan.
I hereby certify that I fully understand the preferences offered to me. I choose to retire using separation
pay preference # � and wish my benefits to be calculated under this preference. Please use my
leave in the following manner:
Run Out vacation sick
Lump Sum � 39. y� vacation ����sick
floaters bonus hours
T -�loaters _� `-'— bonus ho�rs
f understand that my preference cannot be changed once this torm is signed and that my decision is
i r r e v o c a b l e. � �'; �---.�`�� %�e���
EMPLOYEE'S SIGNATURE: ��� �/
SOCIAL SECURITY #:
NESSES: ADDRESS
�
PHONE:
avK ���-1 .,5��
--�' . /
J Ci ✓'v� �' all �_ //a /'� .� �r S, �1.� � �(,
Reviszd UO2
rorm n9900-0008 File Name: Employee Separation Pay Pref
:�
I, T h O,mu S L do hereby apply for retirement under the City
of Clearwater General Employees' sion Plan.
Job Classifi on: _
Department: Gt ►^
Benefits Date:
Date of Birth:
Spouse's Name:
Spouse's Date of Birth:
✓' G�cX e S.c,�J E�Y I�.- � v'
Sex: �M F
cLlrra�"� Division:
�' b Date of Hire: 3U 4
� Resignation Date: :3 3c� � `
The type of pension for which I am applying is (check only one):
� Regular Pension based on years of service
Job-connected Disability Pension
Non-job-connected Disability Pension
The City of Clearwater Employees' Pension Plan provides multiple options to Plan Participants as to the manner of
the pension benefit payment. Option 1 below represents the standard or normal form of retirement benefit. The
other optional forms (#2 -#6) shall be computed to be the Actuarial Equivalent of the normal benefit.
Option 1- Joint and Survivor Annuity
The normal form of retirement benefit shall be an annuity paid monthly for the life of the Participant, with a
100% survivor annuity paid monthly for a period of five years following the death of the Participant to the
beneficiary, provided that following such five year period the survivor annuity shall be reduced to 50% of the
original survivor annuity amount. [See section 2.397 (a) (3) (A)] The ParticipanYs surviving spouse receives
the designated amount for the rest of his/her life or until he/she remarries. If no surviving spouse, dependent
children under the age of 18 shall be deemed to be the beneficiary and receive the designated amount until
the age of 18. [Section 2.397 (a) (3) and Section 2.398 (b) (1)]
Option 2 - Life Annuity
The Participant receives his/her pension as long as he/she lives. Upon the death of the Participant, benefits
cease. [Section 2.398 (b) (2) (a) (1)]
Option 3-10 Year Certain & Life Annuity -(must designate a beneficiary)
The Participant receives his/her pension as long as he/she lives. If the Participant dies before 120 monthly
payments have been made, the remaining payments up to the 120 payments are made to his/her beneficiary.
If payments to the beneficiary commence and he/she dies before the total of 120 payments has been made,
the remainder of the payments is paid to the beneficiary's estate. If the first beneficiary predeceases the
participant, he/she may designate a new beneficiary. If no beneficiary is alive at the time of the participanYs
death, the participant's estate will be paid the balance of the 120 payments. [Section 2.398 (b) (2) (a) (2)]
Option 4- 50% Joint & Survivor Annuitv -(must designate a beneficiary)
The Participant receives his/her pension as long as he/she lives. If the Participant dies first, the beneficiary
receives 50% of the pension for the rest of his/her life. If the beneficiary dies first, the Participant continues to
receive 100% of his/her pension and upon his/her death, benefits cease. [Section 2.398 (b) (2) (a) (3)]
Option 5- 75% Joint 8� Survivor Annuity -(must designate a beneficiary)
The Participant receives his/her pension as long as he/she lives. If the Participant dies first, the beneficiary
receives 75% of the pension for the rest of his/her life. If the beneficiary dies first, the Participant continues to
receive 100% of his/her pension and upon his/her death, benefits cease. [Section 2.398 (b) (2) (a} (3)]
r 1 \nPage �
�) ana tne various aiternanve optionai oenent payment me�noas �vNuu� �� <<� u �uy� � v� u� ��C� �u�� � r iai i a� �u � �a��
elected to receive my retirement benefits as indicated below. (Note: Option selection to be indicated both by
Number and Description.)
I understand that once my first pension check is received, my decision on this option is irrevocable.
If taking Option 1 sign below:
Option #: 1 Description: Joint and Survivor Annuity
Employee's Signature: Date:
Attachment
Dependent children under the age of 18 and residing in my household are:
Child's Name Sex
if taking Option 2 sig
Option #: 2
Employee's Signature:
below:
Description: Life Annuity
Date of Birth
Date:
If takin O tion 3, 4, 5, or 6 filf in beneficia information and si n below:
Option #: Co Description: / P-� o c� 6 �n`�'" `L" �v �, � ; ��'�
My des� nated,ben ficiary is:
Name: �it,✓ l��e ,L.O �t4 Date of Birth: a 3.S Sex 9�
Social Security Number: _, � Phone Number: ��-
Address: o� Uv G� � S�� �
� � r �� .�, r�✓�,'� �, s �- 3 y'� �- �
Employee's Signature: �
STATE OF FLORIDA
COUNTY OF PINELLAS
Rev. 4/08
Form #9900-0009
�
�lnhv��
9 ��— � 3
The for going i strument was acknowledged before me this
l c�l S�/ o�.. by ��J �,'r� 4 S ���I �i who is
personally known to me or who has provided
as iden�ff%atiop and who�iid/di�i r,tot t,ake�an oat�,.
.��—� ..-�.�..r � -
( ignatur ) ��
� �,�� L. �
My Commission expires:
NOTARY PUBLIC-S3'ATE OF FLORIDA
Deborah L. Ford
`_- Commission # DD763426
-` Expires: MAY 15, 2012
iiGNDED THRU ATLANPiC BONDING CO3 INC.
Notary Public
Name of Notary Printed
File Name: Pension Entitlement Option Form
r 1 \nPage �
i nomas �ong
LAST DATE PAI D:
BENEFITS DATE
CREDITED SERVICE
3/30/2012
7/30/1990
21.6667
Prepared by: Deborah Ford
Date: 1/25/12
GROSS
CALENDAR PENSION
YEAR EARNINGS
2007 $44,063.35
2008 $45,571.82
Attachment number 1 \nPage
2009 $44,798.40
2010 $44,516.41
2011 $44,802.54
$223,752.52 (5 Year Total)
5/ $44,750.50 (Yearly Avg)
12/ $3,729.21 (Monthly Avg)
x 0.0275 (Benefit Rate)
x 21.6667 (Yrs of Service)
$2,221.99 (Est Mtly Pension)
t� i imH i t ciractu�
Version:
Employee Name: Thomas Long 1-4-96
Employee Date of Birth: 4 6 1947
Marital Status: m
Spouse Date of Birth: 8 3 1952
RPnPficiarv I�atP �f Rirth� 8 '� 1 A52
Benefit Commencement Date : 4 1 2012
Attachment number 1 \nPage
Estimated Monthly Normal Retirement Benefit: $2,221.99 Estimated
Monthly
Actuarial Equivalent Adjustment Factors: Benefit
Option 1 J&S Annuity 1.00000 $2,221.99
Option 2 Life Annuity 1.17024 $2,600.26
Option 3 10 Year Certain 1.11603 $2,479.82
Option 4 50% J&S 1.05770 $2,350.20
Option 5 75% J&S 1.00918 $2,242.38
Option 6 100% J&S 0.96491 $2,144.02
ESTIMATE
Pension Trustees Agenda
Council Chambers - City Hall
SUBJECT / RECOMMENDATION:
Meeting Date:3/12/2012
Approve the request of employee Louise Schult, Police Department, to vest her pension as provided by Section 2397 of the Employees'
Pension Plan.
SUMMARY:
Louise Schult, Police Service Technician, Police Department, was employed by the Ciry on May 18, 1994, and began participating in
the Pension Plan on that date. Ms. Schult terminated from City employment on December 19, 2011.
The Employees' Pension Plan provides that should an employee cease to be an employee of the City of Clearwater or change status
from full-time to part-time after completing ten ar more years of creditable service (pension participation), such employee shall acquire
a vested interest in the retirement bene�ts. Vested pension payments commence on the first of the month following the month in which
the employee normally would have been eligible for retirement.
Section 2397) provides for narmal retirement eligibility when a participant has reached age 55 and completed twenty years of credited
service, has completed 30 years of credited service, or has reached age 65 and completed ten years of credited service. Ms. Schult would
have completed at least 10 years of service and reached age 65 on May 8, 2013. Her pension will be effective June 1, 2013.
Review Approval:
Cover Memo
��11�:��
--.,.y �.. �.+v.vv.. �v�wv���� L.��� �v 1111:.111 VVILII LIIG
City of Clearwater, Florida, and having completed ten (10) or more years of credited service,
such service having occurred during the period from (date �entry i to Pension Plan)
�g 9�t to (date of resignation or change of status) ���e�n ��r 1�1 � a0 �/
here ' makes application to receive the vested rights pension provided for by the City Code of
Ordinances. As such former employee, I understand the pension requested will be computed
pursuant to the provisions of the City Code of Ordinance in effect on the date of resignation.
I hereby further certify that my date of birth is /� � a.y �, /-r'J �-/�
achment number 1 \nPage
The date I will begin to receive my pension will be _ J�� � %� �O / 3
Further, I additionally certify that I have made no application seeking to obtain a return of the
contributions that I paid into the Pension Fund during the period of my employment set forth
above, I have not been convicted of a felony during my period of employment, and I have not
received ny oth type of p nsion from the City.
_ � _.�
Signature v Social Securitv Number
�o�l�C,�
DepartmenUDivision
��r�G� �C✓t1 t�c � %Gh hr CI G 17
Job Classification
�..
Street Addres�
City, State, Zip Code
•- �
�
STATE OF FLORIDA The foregoing instrument was acknowledged before
�
COUNTY OF PINELLAS me this ��l day of �� nuq � c.i , 20 ��
by �O u r�s � J C�] v��'
Rev. 4/09
who is personally know to me or who has provided
and who did/did not take an
� � YG
as identification
otary Public
ame of Notary Printed
My commission expi�'�,�"�,,?YP���-s�a�oF�,o�mA
; e ora , or
° Commission #DD763426
''�,,, ,,...` Expires: MAY 15, 2012
$dNDED THRU ATLe1��I1TC BOh'DING CO., INC.
Vested Pension Forrn